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PCAOB reaches agreement with audit regulator in Denmark

The PCAOB and Denmark’s audit regulator have entered into a
cooperative arrangement for oversight of audit firms in their
respective jurisdictions, the PCAOB announced Friday.

A framework for joint inspections is provided in the agreement with
the Danish Business Authority. The agreement allows for the exchange
of confidential information and includes data protection provisions.

“This is another step forward in our pursuit of robust international
cooperation to help improve audit quality and protect investors,”
PCAOB Chairman James Doty said in a news release.

The PCAOB has similar agreements with Sweden, Finland, France,
Germany, the Netherlands, Spain, and the United Kingdom. The PCAOB
also has agreements with Switzerland, Norway, and several regulators
in the Middle East, Asia, and Australia.

Five of the more than 900 PCAOB-registered audit firms outside the
United States are located in Denmark. Approximately 2,300 audit firms
are registered with the PCAOB.